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We're buyers | 20 January 2023

20 January 2023, GBP/USD

We're buyers

Wave Analysis

GBPUSD is on an uptrend the market is yet to finish forming the impulsive V waves pattern the market is currently at 1.23960. From 1.21941 to where the market is now,1.23960, the market has been moving in the form of rising channels, this signals a price reversal to the downside. I expect the market to push a little bit higher up around 1.24345 to form a double top and then sell up to 1.22741 before buying up major wave V 1.29354. To open a buy position we will wait for the market to break above major wave III.1.24404.

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We're buyers

Bob Stan
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